Reserve Bank of Australia Lifts Cash Rate 0.25% to 4.35%
Reserve Bank of Australia Lifts Cash Rate 0.25% to 4.35%
The Reserve Bank of Australia has decided to lift the cash rate again — upping it by 25 basis points to 4.35% for November, as widely anticipated. The reason for this decision is that inflation remains too high, causing stress on household budgets and businesses, and sits well outside the central bank's target band of 2% to 3%.
澳大利亚储备银行已决定再次提高现金利率——正如人们普遍预期的那样，11月份将现金利率上调25个基点至4.35％。做出这一决定的原因是，通货膨胀率仍然过高，给家庭预算和企业带来压力，远远超出了央行的2％至3％的目标区间。
The statement: “Inflation in Australia has passed its peak but is still too high and is proving more persistent than expected a few months ago. The latest reading on CPI inflation indicates that while goods price inflation has eased further, the prices of many services are continuing to rise briskly.
声明说：“澳大利亚的通货膨胀率已经过峰值，但仍然过高，并且比几个月前的预期更加持久。消费者价格指数通胀的最新数据表明，尽管商品价格通胀进一步缓解，但许多服务的价格仍在继续快速上涨。
“While the central forecast is for CPI inflation to continue to decline, progress looks to be slower than earlier expected. CPI inflation is now expected to be around 3.5% by the end of 2024 and at the top of the target range of 2 to 3% by the end of 2025.
“尽管核心预测是消费者价格指数通胀率将继续下降，但进展似乎低于先前的预期。现在，预计到2024年底，消费者价格指数通胀率将达到3.5％左右，到2025年底将达到2％至3％的目标区间的最高水平。
“The board judged an increase in interest rates was warranted today to be more assured that inflation would return to target in a reasonable timeframe.”
“董事会认为，今天有理由提高利率，这样可以更确信通货膨胀将在合理的时间范围内恢复到目标。”
“Given that the economy is forecast to grow below trend, employment is expected to grow slower than the labour force and the unemployment rate is expected to rise gradually to around 4.25%. This is a more moderate increase than previously forecast. Wages growth has picked up over the past year but is still consistent with the inflation target, provided that productivity growth picks up.”
“鉴于预计经济增长将低于趋势，就业增长速度预计将低于劳动力，失业率预计将逐渐上升至4.25％左右。这比先前预测的增长更为温和。在过去的一年中，工资增长有所回升，但前提是生产率增长有所回升，仍与通货膨胀目标一致。”
What has changed: This is the first interest rate rise since July and follows alarmingly high price growth for the three months through September and strong retail sales numbers.
发生了什么变化：这是自7月以来首次加息，此前截至9月的三个月中物价增长惊人，零售销售数据强劲。
What next: The RBA will hold its next policy meeting in December, the last opportunity to act on rates before an extended break over the summer. The central bank will update its full quarterly economic projections on Friday.
下一步该怎么做：澳洲联储将在12月举行下一次政策会议，这是夏季延期休会之前对利率采取行动的最后机会。央行将在周五更新其完整的季度经济预测。